Introducing the Gambler’s Fallacy Indicator [Trader Education]

This is a simple indicator of momentum but it can also point to extreme levels in the sense of gambler's fallacy. The Gambler's Fallacy Indicator™, or for short GFI, is an oscillator with one free parameter, the length of the period under consideration. This indicator can also be used to pinpoint winning or losing streaks of any length when its value becomes 100 or 0, respectively.

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